DGAP-News: CropEnergies with a good start into the financial year 2013/14 - Revenues and earnings in 1st quarter 2013/14 above previous year's level
(firmenpresse) - DGAP-News: CropEnergies AG / Key word(s): Quarter Results/Forecast
CropEnergies with a good start into the financial year 2013/14 -
Revenues and earnings in 1st quarter 2013/14 above previous year's
level
09.07.2013 / 07:00
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Mannheim, 9 July 2013 - CropEnergies AG, Mannheim, increased its revenues
and earnings in the 1st quarter of the financial year 2013/14 (1 March 2013
- 31 May 2013). Revenues rose by 16 percent to EUR 186.0 (previous year:
160.5) million due to higher revenues for bioethanol as well as for protein
food and animal feed products and due to a growth in bioethanol sales
volumes. EBITDA improved by 3.6 percent to EUR 23.6 (previous year: 22.8)
million and the operating profit by 5 percent to EUR 15.6 (previous year:
14.9) million. Owing to a high surplus from current business activities the
net financial debt declined significantly to EUR 54.4 (previous year:
124.6) million.
From March to May 2013, CropEnergies produced a total of 201,000 (previous
year: 192,000) cubic metres of bioethanol. The annual maintenance phase in
Zeitz took place in the 1st quarter of 2013/14. After all maintenance work
was successfully completed, the production plant was put into operation
again at the end of April 2013 according to schedule.
The outlook for the complete financial year 2013/14 remains unchanged.
Provided that market prices for bioethanol and vegetable proteins decline
only slightly in comparison with the previous year and the production
plants will continue to operate nearly at full capacity levels,
CropEnergies expects revenues for the financial year 2013/14 to be close to
those of the previous year's level .
Following the record level of EUR 87 million in operating profit achieved
in the 2012/13 financial year due to the particularly favourable
constellation of hedged raw material costs and product selling prices,
CropEnergies expects the earnings situation to normalise owing to higher
prices for raw materials, particularly grain. Accordingly, an operating
profit ranging from EUR 50 to 60 million is expected. This already takes
into account the adverse effects caused by the flooding in Zeitz in June
2013. CropEnergies still expects a return on capital employed (ROCE) of at
least 10 percent, which will give the group again a leading position in the
renewable energies segment.
The full report for the 1st quarter of 2013/14 can be downloaded from the
CropEnergies website at www.cropenergies.com.
CropEnergies AG
Ensuring mobility in a climate friendly way - today and in the future - is
CropEnergies' business. Founded in Mannheim, Germany, in 2006, the young
and dynamically growing member of the Südzucker Group is one of the leading
European manufacturers of sustainably produced bioethanol for the fuel
sector today. With its three modern production facilities in Germany,
Belgium, and France as well as trading offices in the USA and Brazil,
CropEnergies produces approximately 700,000 cubic meters of bioethanol per
year. They mainly replace petrol and reduce CO2 emissions by up to 70
percent. With this, CropEnergies has established itself successfully as a
bioethanol pioneer in a major emerging market.
At the same time, CropEnergies is a major producer of food and animal feed
products. The raw materials which areused such as cereals and sugar beets
are completely utilized. As a result, 500,000 tonnes of high-quality
protein food and animal feed products are manufactured every year out of
the non-fermentable components of the raw materials.
Through advanced technology and innovation CropEnergies contributes to
ensure a sustainable mobility from renewable sources today and in the
future through its main product bioethanol: mobility - sustainable.
renewable.
The CropEnergies AG stock (ISIN DE000AOLAUP1) has been listed at the
regulated market (Prime Standard) at the Frankfurt Stock Exchange since
2006.
Contact:
Heike Baumbach
Investor Relations
Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-03
ir(at)cropenergies.de
Nadine Dejung
Public Relations / Marketing
Tel.: +49 (621) 71 41 90-65
Fax: +49 (621) 71 41 90-04
presse(at)cropenergies.de
End of Corporate News
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09.07.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: CropEnergies AG
Gottlieb-Daimler-Str. 12
68165 Mannheim
Germany
Phone: +49 (0)621-71 41 90 00
Fax: +49 (0)621-71 41 90 04
E-mail: info(at)cropenergies.de
Internet: www.cropenergies.com
ISIN: DE000A0LAUP1
WKN: A0LAUP
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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220295 09.07.2013
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Datum: 09.07.2013 - 07:00 Uhr
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